Arizona State Retirement System Boosts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Nov 1st, 2023

Arizona State Retirement System raised its stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 706,039 shares of the computer hardware maker’s stock after buying an additional 34,353 shares during the period. NVIDIA makes up about 2.4% of Arizona State Retirement System’s investment portfolio, making the stock its 4th largest holding. Arizona State Retirement System’s holdings in NVIDIA were worth $298,669,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Von Berge Wealth Management Group LLC raised its stake in NVIDIA by 2.6% during the 2nd quarter. Von Berge Wealth Management Group LLC now owns 930 shares of the computer hardware maker’s stock valued at $393,000 after purchasing an additional 24 shares during the period. David J Yvars Group raised its stake in NVIDIA by 1.5% during the 1st quarter. David J Yvars Group now owns 11,708 shares of the computer hardware maker’s stock valued at $3,252,000 after purchasing an additional 168 shares during the period. Telos Capital Management Inc. raised its stake in NVIDIA by 48.1% during the 1st quarter. Telos Capital Management Inc. now owns 4,560 shares of the computer hardware maker’s stock valued at $1,267,000 after purchasing an additional 1,482 shares during the period. Alta Wealth Advisors LLC raised its stake in NVIDIA by 14.9% during the 1st quarter. Alta Wealth Advisors LLC now owns 6,650 shares of the computer hardware maker’s stock valued at $1,847,000 after purchasing an additional 863 shares during the period. Finally, DBK Financial Counsel LLC acquired a new stake in NVIDIA during the 2nd quarter valued at $265,000. Institutional investors own 64.79% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the completion of the sale, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Colette Kress sold 4,980 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the completion of the sale, the chief financial officer now owns 499,428 shares of the company’s stock, valued at $230,106,456.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the sale, the chief executive officer now directly owns 7,918,875 shares in the company, valued at $3,595,248,438.75. The disclosure for this sale can be found here. Insiders sold 145,232 shares of company stock valued at $67,606,089 over the last quarter. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $407.80 on Wednesday. NVIDIA Co. has a 12-month low of $129.56 and a 12-month high of $502.66. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.01 trillion, a PE ratio of 98.50, a price-to-earnings-growth ratio of 3.14 and a beta of 1.76. The firm has a 50-day moving average price of $445.90 and a 200 day moving average price of $406.32.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The firm had revenue of $13.51 billion during the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the prior year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 101.5% compared to the same quarter last year. Research analysts anticipate that NVIDIA Co. will post 9.54 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent analyst reports. HSBC boosted their target price on shares of NVIDIA from $600.00 to $780.00 and gave the company a “buy” rating in a research note on Monday, August 21st. Wolfe Research upped their price target on shares of NVIDIA from $570.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. The Goldman Sachs Group raised shares of NVIDIA from a “buy” rating to a “conviction-buy” rating in a research note on Monday, October 2nd. Piper Sandler upped their price target on shares of NVIDIA from $500.00 to $620.00 and gave the stock an “overweight” rating in a research note on Thursday, August 24th. Finally, Truist Financial upped their price target on shares of NVIDIA from $545.00 to $668.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $556.83.

Get Our Latest Stock Analysis on NVIDIA

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.